• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

French retailer Carrefour Group swings back to profit in first half

10 Aug '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).
 
“Once again this half, Carrefour has delivered excellent results. Our organic growth is strong, while the value-creating acquisitions in recent periods are rapidly integrated. Finally, our new cost savings plan is quickly showing its first effects,” Alexandre Bompard, chairman and CEO at Carrefour, said in a press release.
 
Operating income surged 41.9 per cent to €689 million (H1 FY20: €485 million). E-commerce sales during H1 increased 26 per cent against last year.
 
The company’s sales from France grew 4.1 per cent to €18.8 billion, whereas sales from Europe fell 1.7 per cent to €11.3 billion. Moreover, Latin America's sales jumped 13.2 per cent to €6.9 billion, and sales from Asia dipped 4.1 per cent to €1.3 billion.
 
“While the sanitary and macroeconomic context remains uncertain, the group is moving forward with great serenity towards achieving its objectives, both for full-year 2021, which will be another record year in terms of cash generation, and for the medium term. Hence, we are complementing the €500 million share buyback completed at end-July with an additional €200 million programme,” Bompard added. “In addition, in the coming months, we will considerably amplify our digital transformation, whose main strategic drivers will be presented at a Digital Day to be held on November 9 in Paris.”

Fibre2Fashion News Desk (JL)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search